Savers are slowly choking off the life of the world economy
by Phillip Inman from on (#25P8M)
Long seen as a badge of prudence, much of our savings are, in truth, unpaid tax revenue secured in investments that government has no choice but to protect
Saving is always said to be a good thing. Not a week passes without a central bank governor or finance minister telling us we don't save enough.
But they are talking about households and their spare cash. And cash accounts for only a small proportion of the savings held by most people.
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